State of the Debate

On the other hand: Arguing the Ex-Im Bank ...

First Published      Last Updated May 27 2014 12:05 pm

From Saturday's Tribune op-ed page:

Lee leading fight against cronyism at Ex-Im Bank — Stephen DeMaura | Americans for Job Security

"There's a fight brewing in Washington and it's a fight that's been a long time in coming. Finally, a movement is taking shape that could address a certain government agency that's been allowed to meddle in our economy for far too long: the Export-Import Bank of the United States.

"The charter for the Ex-Im Bank, as it's commonly known, is set to expire on Sept. 30 and a growing chorus of voices is calling for the serious reforms or, barring that, allowing the bank's charter to expire, eliminating it for good.

"One of the leaders in this effort is Utah's Sen. Mike Lee, who in a speech to the Heritage Foundation called the "cronyist" bank "another taxpayer-funded example of distorted public policy that further erodes Americans' confidence in our markets and our system. ..."

From today's Seattle Times:

Reauthorize Export-Import Bank for the sake of Boeing and other Northwest companies — Seattle Times Editorial

" ... The Ex-Im Bank is of particular importance in this state, where about 40 percent of jobs are linked to international trade. Since 2007, Ex-Im has supported $110 billion in Washington exports, mostly Boeing aircraft — more than a quarter of its total business last year. Yet, 90 percent of Ex-Im transactions support firms typically too small for commercial banks. ...

" ... Pragmatism should rule. America's biggest competitors in the world market offer similar government export credit programs — 59 countries in all. Many programs are larger. Even Delta uses them in foreign purchases. All Washington lawmakers voted for the bank in 2012.

"With billions at stake, this state's congressional Republicans, especially, now need to lead on the issue."